Latest Updates on Bajaj Auto
Bajaj Auto on 19th June 2017 opened with a
gap up and stock made an intraday high of Rs. 2894 at NSE after
the news of Maharashtra government removes cap on taxi and auto
permits. The promoters holding in the company stood at 49.3 %
while Institutions and Non-Institutions held 25.11 % and 25.59 %
Moreover company is offering discount up to Rs 4500 depending on its two-wheeler models, because of GST implementation on July 1. Company has started giving discount from June 15, 2017. Bajaj Auto is the only two-wheeler manufacturer to offer the post-GST price advantage before its nationwide implementation.
Bajaj Auto on 01st June 2017 said that its 2-wheeler sales slipped 10% to 3.14 lakhs, its domestic business down by 13% and exports were down by 5% YoY. Company said that they have sold 3.48 lakhs unit in last year same month.
Bajaj Auto is hopeful to Rev Up Sales in
2017-18 as per report on 23rd May 2017. The FY 2016-2017 was a
bumpy ride for Bajaj Auto as sales were down by 5.85%. Exports
were also effected. Bajaj Auto is planning to to enter in five
new market this fiscal.
"Last fiscal, we faced challenges both in domestic and export markets. ve new market this fiscal.
"Last fiscal, we faced challenges both in domestic and export markets. mestic and export markets. Demonetisation and BS-III ban had big impact on overall industry sales," Bajaj Auto President Ravikumar said to PTI.
As per latest report on 03rd May 2017, Bajaj Auto reported an increase of 1% in motorcycle sales at 293932 unit in April 2017. The company last year sold 291898 unit. Export rose by 46% to 151913 units from 103976 from last year. Technically stock looks bullish and further price rise expecting in coming days. Stock will test strong resistance around 2950 and 2985.